Sunday, April 24, 2005

Texas lawyer specializes in HOA foreclosure
I notice that recently CAI attorneys have been busily denying that any of them get wealthy doing foreclosure actions over delinquent assessments. That's to offset the charge that the HOA foreclosure practices tend to benefit attorneys more than HOAs or owners. Well, here's an example of a foreclosure specialist who seems to be doing pretty nicely. It also refutes the charge that hardly any foreclosure actions lead to actual foreclosure:

When it comes to collecting delinquent property association fees from homeowners, Tom L. Newton Jr. handles far more accounts than anyone else in Bexar County. In 2004, his signature was on the notice of foreclosure in almost 90 percent of all cases. By his own declaration, Newton says, "I'm just the best at it." Dozens of homeowner associations call on Newton when their efforts to collect dues and fees are unsuccessful. If the accounts get delinquent enough, the association can actually foreclose on the house. Newton files hundreds of lawsuits each year for "debt and damages," or for "notice of foreclosure." Of the 370 notices of foreclosure filed in 2004, according to Real Estate Foreclosures Inc., 53 actually went forward to a county auction. In most cases, the houses became the property of the homeowner association.

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